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20110722
20110722
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a partnership, but jon karl is in washington, and the speaker fired off a letter just before we came on the air tonight.t. >> reporter: that's right. the speaker and the president were on the veshlg of a histori deal that would have cult spending by $3.5 trillion, dealt with the debt crisis and raised the debt ceiling. now, the speaker fired off this letter, saying the deal, the talks are over. he says it has become evident that the white house is simply not serious about ending the spending binge. in the end, the speaker writes, we could not connect. i'm told this broke down over a disagreement over how much to raise tax revenues. >> and jon, the president said he was going to fire back, too, here's what the president just said, we'll get your reaction here. >> we have run out of time and they are going to have to explain to me how it is that we are going to avoid default. and they can come up with any plans that they want and bring them up here and we will work on them. the only bottom line that i have is that we have to extend this debt ceiling through the next election. >> jon, you can almo
-up and a straw poll preview. >> david joins us now in the studio to explain. let's begin with an jon huntsman's campaign. it was not the smoothest roll- out. >> you don't get much time to show progress in these campaigns. his campaign manager planned a big meeting today in washington to determine what to do next, how to get more aggressive. he has not shown much progress in the national polls and the first poll in new hampshire showing him in single digits. >> the august straw poll is coming up in iowa. >> tim pawlenty, another candidate stuck in a rut. a lot of that is tied to the rise of michelle bachmann. she is rising and is a close second to mitt romney. iowa willtim pawlenty has to do well. will they place rick perry on the ballot? saturday will be the big day. they both need to do well including michelle bachmann. >> thanks. have a great weekend. >>> time for traffic and weather every 10 minutes. straight to adam caskey. >> dangerously hot temperatures today. it will feel like 118 degrees when you factor in the humidity. these are temperatures in the shade that we refer to. there's a b
on the outcome. abc's jon karl joins us with the latest. what about it? how close are we finally to a deal? >> reporter: getting close to a deal. the outlines of this deal include up to $3 trillion in spending cuts over the next ten years including some cuts to popular entitlement programs like medicare and social security, also, elizabeth, it would include a promise or a commitment that congress would bring more money in through tax revenues by reforming the code, closing some of those loopholes, something that congress would act on. >> that last one, isn't that basically a tax increase in disguise? >> well, certainly some will call it that. the rates won't go up. congress would have to act over the next year. if they didn't ago, automatic steps would be taken that both sides wouldn't like which would be tax hikes and spending cuts possibly talking about repealing part of the health care bill. >> even if president obama and speaker boehner reach a deal they have their own rank and file to make happy. i was struck by a comment by barbara mikulski. we heard reports of a trillion dollar cut
Search Results 0 to 2 of about 3

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